Railway Loan Act 1867 (SA)

No, 28,

An Act to authorixe the raisi?zg of Money for Railway pzcrposes.

[Assented to, 19th December, 1867.2

HEREAS it is expedient to raise by loan, secured on thc P,,,~I,I,.

W General Revenue of South Australia, funds for railway p u p

poses as specified in the Schednle hercto-Be i t therefore En- acted by the Governor-in-Chief of the Province of South Australia, with the advice and consent of the Legislative Council and House of Assembly of the said Province, in this present Parliament assembled, as follows :-

3 N

l. The clauses l, 2, 3, 4, 5, and 23 in Act No. 24 of 1866-7 shall Repeal of clawes I to

-

5, and 23, Act No. 24,

be and the same are hereby repealed. of 1866-7.

2. It shall be lawful for the Treasurer from time to time to issue Treasurer to raiee

.EM"000-

bonds, not exceeding in the whole the sum of Eight Hundred and dient, and such bonds shall be in the form following, that is to say-

No. s No.

South Australian Government Revenue Securities,	of b	o	~	~
I, the Treasurer of the Province of South Australia,
in consideration of the sum of Pounds, paid to me for railway purposes, do hereby bind myself 50 pay to the holder for the time being of this present obligation the sum of Pounds, and intcresl thereon after the rate of six per cent. per annuni;

such

31° VICTORIE, No. 28. - - - -. - - - - --- -- --A

Rnilway Lonn Act,--1 867.

such interest to bc payable on the first day of January and the first day of July in every year, and thc prin- cipal to be paid on the first day of in the year one thousand eight hundred and

Sealed with my seal. Dated the day of

one thousand eight hundred and

Signed, sealcd, and delivered in

the presence of

NOTE.-Interest and p~inclpal, payable at the Treasury in

Adelaide, South Australia [or in London, or in any other agreed place, to be declared at the time of issue] at such place as may be appointed, by notice to be given in the South Australia?? Government Gazette and in the London Gnzette.

And every holder of any such bond for thc time being shall be entitled to all rights and remedies under and in respect of the same, in the like manner as though he hacl been named t.herein as the obligee thereof.

Bond8 to bear interest

at 6 per acnt.	3, The said bonds shall bear interest at the rate of Six Pounds per centum per annunl; and the interest and principal upon such bonds shall be payable and paid to the holder thereof at such place and at such time as may be specified or provided therein: Provided
Whon pnyaNu.	that the principal shall not bc payable or naid before the expiration of twentyfive years, and thc tin~c appointed for payment thereof shall not extend beyond fifty years.
Application of
moneys.	4. All nloneys raised and received by the 'l'reasurcr upon the security of the said bonds shall be carried by the said Treasurer to the credit of the Commissioner of Public Works as the Commissioner of Railways, and shall be by him paid to the said Commissioner in such amount and manner as the Governor, by any warrant nnder his hand, may from time to timc authorize and direct.

fiumflto apart

annually for payment 5. I t shall be lawful for the Treasurer, and he is hereby required,

.r principal and	in each and every year from the first raising of any sums of money
interest.	under the authority hereof, until thc wholc amounts so raised, and
all interest thereon, shdll have been duly paid, to set apart
sum as shall suffice to pay the amount of bonds redeemable during such year, topther with interest upon all bonds which shall then bear interest, and shall apply such sum in payment of such bonds and interest in manncr spccifieil in such bonds.

4%

Annual abstraat of 6, The Treasurer shall on or before the first day of February in every year preparc an annual account, in abstract, of receipts and expenditure for and on account of all funds raised or received under authority hereof, and for the purposes named herein, for and during the past year, under distinct heads of receipts and expenditure for

accoi~ntfl	to be pub-
liehed.

each division in the Schedule hereto, with a statement of the balance

of each account, duly audited and certified by the Auditor-General;

and

31" VICTORIB, No. 28.

Railway Loan ActS-1 867.

and a copy of such account shall be published in the Government

Gazette, and shall also be at once laid before the Parliament, if then

sitting; and if not, then within fourteen days after the opening of

the ensuing Session.

tide.

7. This dct may be cited as the Railway Loan AA of 1867."

In the name and on behalf of the Queen I hereby assent to

this Act.

I). DALY, Governor.

SCHEDULE.

.PL

31" VICTORIB, No. 2 5

Railway Loan Act,-1867.

SCHEDULE.

1. For completing the railway between Strathalbyn and Middleton, and

providing rolling stock ....................................

2. For constructing a railway from Roseworthy to for rester'^ and pro-

. viding rolling stock (Act No. 21 of 1866-7 amended hereby) ....

3. For completing the railway from Port Wakefield northwards ......

4. For providing additional rolling stock, plant, rails, and buildings, on

the lines of railway to Port Adelaide and to Kapunda ..........

5. For additions to the jetty terminating the tramway at Port Victor,

and for extension thereof and the linee of rail to Granite Island.,

6. For constructing a railway from Mount Gambier to Narracoorte, and

providing rolling stock ....................................

7. For constructing a railway from Forrester's to Redruth, and

providing rolling ~ t o c k .. !, ................................

Total ............................... $811,900

.. .. .. .. .. -. .. -W-

Adbide : Printed by authority, by W. C. Cox, Government Printer, Victoria-square.